The president of a company hired to build a South Carolina facility to turn weapons-grade plutonium into nuclear reactor fuel says he's worried the project won't be adequately funded.

Shaw AREVA MOX Services president Kelly Trice told reporters Thursday he thinks the Obama administration believes in the mission of the mixed-oxide fuel facility but admitted he's worried about funding.

The plant at the Savannah River Site near Aiken is part of an international nonproliferation effort, with the United States and Russia committed to disposing of at least 34 metric tons each of weapons-grade plutonium.

MOX has been plagued by cost overruns and delays. Last month, the General Accountability Office said the project's price tag had ballooned to $7.7 billion.